Completing another successful financial year, Overseas Realty (Ceylon) PLC recorded a Group Net Profit of Rs 3 Billion for 2015 despite lower revenue.
Revenue from Property Leasing grew by 11% to Rs 1.96 bn in comparison with last year, with high occupancy levels and higher rentals at the World Trade Center (WTC). The company expects to maintain good occupancy levels during 2016. Revenue from Other Services contributed an increase of 98% to Rs 206 mn. However Revenue from Apartment Sales reduced from Rs 4.3 bn to Rs 0.97 bn with the remaining Sales of Phase 2 being recognized during 2015.
Piling works of Havelock City Phase 3 was completed early 2016 and pilling works of Phase 4 is expected to be completed during 2016. The Sales launch of Phase 3 is planned for March 18, comprising two more residential towers with 304 Luxury Apartments.
The Group Net Asset Value per Share as at December 31, 2015 increased by 5% to Rs 32.22 and the Earnings per Share for the year stood at Rs 3.44. In comparison with last year the profit attributable to Equity Holders of the Parent increased marginally by 1% to Rs 2.99 bn. The company announced a dividend of Rs 1.50 per share for 2015 amounting Rs 1.3 bn.
www.dailynews.lk
Revenue from Property Leasing grew by 11% to Rs 1.96 bn in comparison with last year, with high occupancy levels and higher rentals at the World Trade Center (WTC). The company expects to maintain good occupancy levels during 2016. Revenue from Other Services contributed an increase of 98% to Rs 206 mn. However Revenue from Apartment Sales reduced from Rs 4.3 bn to Rs 0.97 bn with the remaining Sales of Phase 2 being recognized during 2015.
Piling works of Havelock City Phase 3 was completed early 2016 and pilling works of Phase 4 is expected to be completed during 2016. The Sales launch of Phase 3 is planned for March 18, comprising two more residential towers with 304 Luxury Apartments.
The Group Net Asset Value per Share as at December 31, 2015 increased by 5% to Rs 32.22 and the Earnings per Share for the year stood at Rs 3.44. In comparison with last year the profit attributable to Equity Holders of the Parent increased marginally by 1% to Rs 2.99 bn. The company announced a dividend of Rs 1.50 per share for 2015 amounting Rs 1.3 bn.
www.dailynews.lk
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